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814-816 6th St SE 814 6th St SE 6 Unit Apartment Building $2,300,000 ($383,333/Unit) 8.23% Cap Rate Minneapolis, MN 55414
Investment Highlights
- 6 Rental Units: Each with 5BR, 2BA, Laundry in Unit
- New Construction of 816 6th and Complete Renovation of 814 6th
- Strong rental appeal in the Marcy-Holmes / University district
Executive Summary
Investment opportunity. Six units, two buildings, all new with 5BRs, 2BA and Laundry in each unit. Highly marketable modern interior finishes Strong rental appeal in the Marcy-Holmes / University district. 814 & 816 6th Street SE: Common Lot Development. Both 814 and 816 6th Street SE exist on a single parcel under one PID and were developed as a Common Lot Development in the Marcy-Holmes neighborhood. Together, 814 & 816 6th Street SE form a unified six-unit multifamily asset on a single PID, built and renovated to modern 2020s standards.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,300,000 | Property Subtype | Apartment |
| Price Per Unit | $383,333 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 8.23% | Building Size | 9,981 SF |
| Gross Rent Multiplier | 9.8 | Average Occupancy | 0% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2025 |
| Zoning | Multi Family - BFI3 / Interior 3 Built Form Overlay District UA / University Area Overlay District UN2 / Urban Neighborhood District | ||
| Price | $2,300,000 |
| Price Per Unit | $383,333 |
| Sale Type | Investment |
| Cap Rate | 8.23% |
| Gross Rent Multiplier | 9.8 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.23 AC |
| Building Size | 9,981 SF |
| Average Occupancy | 0% |
| No. Stories | 3 |
| Year Built | 2025 |
| Zoning | Multi Family - BFI3 / Interior 3 Built Form Overlay District UA / University Area Overlay District UN2 / Urban Neighborhood District |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Microwave
- Heating
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Sprinkler System
- Stainless Steel Appliances
- Range
- Tub/Shower
- Island Kitchen
- Large Bedrooms
- Quartz Countertops
Site Amenities
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 5+2 | 6 | $3,250 | 1,631 |
Moderately walkable
70/100
Moderately drivable
70/100
Strong public transit
80/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 24-029-24-23-0034 | Total Assessment | $411,000 (2024) |
| Land Assessment | $162,000 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $249,000 (2024) | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Number
24-029-24-23-0034
Land Assessment
$162,000 (2024)
Improvements Assessment
$249,000 (2024)
Total Assessment
$411,000 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026 Payable 2026
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814-816 6th St SE | 814 6th St SE
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